Make it Make Sense: A Reviewer's Perspective on Reconciliation

Upon successful completion of this course, participants will be able to:

1. Review key terms and definitions

2. Identify authoritative references on reconciliation

3. Recognize requirements of applicable standards

4. Demonstrate techniques to identify relevant characteristics and comparable sales

5. Compare quantitative and qualitative methods for supporting adjustments and reconciliation in the sales comparison approach

6. Explain the importance of analyzing recent prior sales of the subject property

7. Understand how review appraisers evaluate the internal logic of land value, replacement/reproduction cost estimates, and depreciation calculations

8. Identify “red flags” in cost approach conclusions

9. Express the importance and application of the concept of consistent use

10. Differentiate direct and yield capitalization methods and their respective applications

11. Identify common inconsistencies in the income capitalization approach

12. Examine perspectives on DCF models and the subdivision development method

13. Combine elements of each approach to provide better support for appraisal conclusions

14. Contrast the strengths and weaknesses of each of the traditional valuation approaches

15. Assess the internal consistency of statements commonly found in appraisal reports

16. Evaluate descriptions and exhibits found in appraisal reports

17. Judge the credibility of appraisal opinions and conclusions

18. Communicate credible and defensible appraisal reports